New York State Teachers Retirement System Has $41.32 Million Position in Ross Stores, Inc. (NASDAQ:ROST)

New York State Teachers Retirement System cut its position in Ross Stores, Inc. (NASDAQ:ROST) by 1.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 298,589 shares of the apparel retailer’s stock after selling 5,505 shares during the quarter. New York State Teachers Retirement System’s holdings in Ross Stores were worth $41,322,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ROST. Norges Bank acquired a new stake in shares of Ross Stores in the 4th quarter valued at about $369,081,000. Morgan Stanley grew its stake in shares of Ross Stores by 84.6% in the 4th quarter. Morgan Stanley now owns 4,742,218 shares of the apparel retailer’s stock valued at $550,429,000 after buying an additional 2,173,922 shares during the period. Holocene Advisors LP acquired a new stake in shares of Ross Stores in the 2nd quarter valued at about $204,584,000. JPMorgan Chase & Co. grew its stake in shares of Ross Stores by 21.0% in the 1st quarter. JPMorgan Chase & Co. now owns 6,036,224 shares of the apparel retailer’s stock valued at $640,624,000 after buying an additional 1,048,817 shares during the period. Finally, Wellington Management Group LLP grew its stake in shares of Ross Stores by 19.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,121,854 shares of the apparel retailer’s stock valued at $465,563,000 after buying an additional 673,670 shares during the period. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ROST has been the subject of several research reports. Jefferies Financial Group raised their target price on Ross Stores from $135.00 to $147.00 and gave the company a “hold” rating in a research note on Wednesday, March 6th. The Goldman Sachs Group lifted their price target on Ross Stores from $143.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Loop Capital lifted their price target on Ross Stores from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Citigroup lifted their price target on Ross Stores from $147.00 to $172.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Finally, TD Cowen lifted their price target on Ross Stores from $144.00 to $169.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $155.21.

Ross Stores Price Performance

Ross Stores stock opened at $139.53 on Friday. Ross Stores, Inc. has a 52 week low of $99.00 and a 52 week high of $151.12. The company’s 50 day moving average price is $145.40 and its two-hundred day moving average price is $133.01. The company has a quick ratio of 1.24, a current ratio of 1.77 and a debt-to-equity ratio of 0.45. The stock has a market cap of $46.98 billion, a P/E ratio of 25.10, a P/E/G ratio of 1.99 and a beta of 1.04.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings results on Tuesday, March 5th. The apparel retailer reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.19. The company had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. Ross Stores had a net margin of 9.20% and a return on equity of 41.15%. Ross Stores’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.31 EPS. On average, equities analysts predict that Ross Stores, Inc. will post 5.89 earnings per share for the current year.

Ross Stores Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.3675 dividend. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date was Thursday, March 14th. This is a boost from Ross Stores’s previous quarterly dividend of $0.34. Ross Stores’s payout ratio is 26.44%.

Ross Stores declared that its board has approved a share repurchase plan on Tuesday, March 5th that permits the company to buyback $2.10 billion in shares. This buyback authorization permits the apparel retailer to repurchase up to 4.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Patricia H. Mueller sold 2,265 shares of Ross Stores stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $145.38, for a total value of $329,285.70. Following the sale, the director now owns 1,914 shares of the company’s stock, valued at approximately $278,257.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Larree M. Renda sold 4,168 shares of Ross Stores stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $147.89, for a total value of $616,405.52. Following the completion of the transaction, the director now directly owns 3,166 shares in the company, valued at approximately $468,219.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Patricia H. Mueller sold 2,265 shares of Ross Stores stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $145.38, for a total transaction of $329,285.70. Following the completion of the transaction, the director now owns 1,914 shares of the company’s stock, valued at $278,257.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,097 shares of company stock valued at $10,396,178. 2.00% of the stock is owned by company insiders.

Ross Stores Profile

Ross Stores, Inc, together with its subsidiaries, operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd's DISCOUNTS brand names in the United States. Its stores primarily offer apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.